Roadmap aims for more inclusive financial sector

Union Minister at the President’s Office  U Soe Thane poses for documentary photo with Special Envoy of the UN Secretary-General, Queen Máxima of the Netherlands.
Union Minister at the President’s Office U Soe Thane poses for documentary photo with Special Envoy of the UN Secretary-General, Queen Máxima of the Netherlands.

A national roadmap launched Wednesday in Nay Pyi Taw aims to improve access to the financial sector, including loans and insurance, for low-income families and small to medium enterprises.
The roadmap for an inclusive financial sector seeks to increase the usage rate for financial services of an internationally acceptable standard from 30 percent in 2014 to 40 percent in 2020, and the level of people using more than one financial service from 6 percent to 15 percent.
At the ceremony at Myanmar International Convention Centre (1), Union Minister at the President Office U Soe Thane said cooperation between the Netherlands and Myanmar will contribute to sustainable development and an improvement in financial sector access for people of all income levels.
Special Envoy of the UN Secretary-General, Queen Máxima of the Netherlands, said the roadmap is being implemented with firm commitments in Myanmar.
Deputy Minister for Finance Dr Maung Maung Thein said the roadmap seeks to strengthen the financial sector and places emphasis on the development of small and medium enterprises, agriculture, and helping poor households.
UN Resident Coordinator Ms Renata Lok-Dessallien gave a speech before the ceremony concluded with remarks by Union Minister for Finance U Win Shein. He said the Ministry of Finance was cooperating with the UNDP-UNCDF to carry out the roadmap.
A more-inclusive financial sector will contribute to low-income families and small and medium enterprises by making financial services available to them at low risks, according to the union minister.

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